Crypto pundit Lark Davis, sometimes known as “Crypto Lark,” thinks that significant catalysts may arrive in 2024.
The adoption of a spot ETF for Bitcoin has remarkably marked the beginning of 2024 on a positive note. The world’s largest cryptocurrency and the broader cryptocurrency market entered a new era when the U.S. Securities and Exchange Commission (SEC) approved the first exchange-traded funds (ETFs) that follow Bitcoin and were listed on American exchanges.
https://x.com/TheCryptoLark/status/1745977370513637757?s=20
After a ten-year battle with the cryptocurrency sector, the U.S. Securities and Exchange Commission has approved the ETF products.
The cryptocurrency industry is exploding with anticipation over the possibility of a spot ETF for other significant cryptocurrencies, with the approval of Bitcoin spot ETFs having cleared a significant obstacle.
Given this, Crypto Lark predicts the arrival of Ethereum spot ETFs by May, the first final date for SEC approval.
Miles Jennings, general counsel of A16Z, feels that the SEC gave in on the debate over whether ETH is a security when it authorised the ETH futures contracts.
This position is supported by Crypto Lark, who claims that the launch of ETH futures ETFs might indicate that ETH is not thought to be a security.
Given this and the historic decision in the Ripple SEC complaint that found XRP was not a security, Crypto Lark thinks an XRP ETF may be on the horizon.
Co-founder and chief investment officer of Valkyrie Funds, Steve McClurg, alluded to the possibility of Ethereum or XRP exchange-traded funds (ETFs) after the introduction of Bitcoin spot ETFs.
The exact timing, order, and even probability of these occurrences are uncertain, so in the meanwhile, XRP and the cryptocurrency community as a whole are holding out hope for the next significant ETF approval to follow Bitcoin.
Lark Davis claims that the halving of Bitcoin and the Ethereum Dencun upgrade are two more significant events that will occur in 2024.
